The European Commission informed the Federal Republic of Germany that it has changed the condition imposed on Commerzbank AG (CRZBY.PK) in 2009 to divest its unit Eurohypo into a condition to run down the company. Therefore, Commerzbank has to reduce in full both the state financing business as well as the bulk of the commercial real estate financing of Eurohypo. As per the conditions imposed by the European Commission, the non-core activities of Eurohypo (Public Finance and non-core areas in Commercial Real Estate) have to be clearly separated in organisational terms from the core activities.

The boards of Managing Directors of Commerzbank and Eurohypo have decided to implement the conditions of the European Commission such as the business areas Commercial Real Estate and Public Finance would be realigned in organisational terms, as well as in the future, the non-core activities would be managed in a new group-internal reduction unit named 'Non Core Assets'.

Commerzbank noted, "'The amended conditions of the EU Commission are challenging, but acceptable. We will consistently continue with the chosen course of a reduction in the Eurohypo portfolios. The objective is that of continuing a small, lower-risk area of the commercial real estate business in Commerzbank." According to the EU Commission's conditions, the Eurohypo brand has to be given up. While adapting to the changing business framework conditions, Eurohypo would be continued for the time being, and the new company name would be announced later.

Also, EU Commission's decision foresees other conditions like excepting the non-core activities, Commerzbank has to reduce its balance sheet to 600billion euro as of the end of 2012 and it may not exceed this level until the end of 2014. In addition, the acquisition ban has been extended to the end of March 2014.

Air Canada plans to add three U.S. routes next year, to cities San Antonio, Memphis and Savannah, the airline announced. The company said it will launch six new non-stop U.S. services beginning Spring 2017.

Harry Potter and the Cursed Child is the best-selling book of 2016 overall and in the Kids & Teens category, confirming the ongoing demand for Harry Potter, Amazon announced. The book, by J.K. Rowling, Jack Thorne and John Tiffany, is also this year's Most Wished For and Most Gifted book.

Airline industry profits in 2016 are now expected to be slightly lower than previous view, yet would reach a peak of $35.6 billion, the International Air Transport Association or IATA said Thursday. Meanwhile, profits would decline in 2017 amid overcapacity, rising fuel costs and political turmoil.